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published on April 18, 2018 - 1:27 PM
Written by Associated Press

(AP) — The latest on developments in financial markets (all times local):

4 p.m.
Stocks are closing broadly higher on Wall Street as investors respond to some positive company earnings reports.

Railroad operator CSX jumped 7.8 percent Wednesday and aircraft maker Textron rose 6.8 percent after reporting results that beat analysts’ forecasts.

Best Buy climbed 3.6 percent after announcing a partnership to sell Fire TVs with Amazon.

IBM slumped 7.5 percent after its results failed to impress investors, pulling the Dow Jones industrial average lower.

Oil prices rose, lifting energy companies. Devon Energy climbed 7.2 percent.

The S&P 500 index rose 2 points, or 0.1 percent, to 2,708.

The Dow lost 38 points, or 0.2 percent, to 24,748. The Nasdaq composite climbed 14 points, or 0.2 percent, to 7,295.

Bond prices fell. The yield on the 10-year Treasury rose to 2.87 percent.

11:45 a.m.
Stocks are modestly higher in midday trading, bouncing back from an early wobble and extending gains from a day earlier.

Gains by retailers and industrial companies outweighed losses in technology Wednesday.

Best Buy climbed 3 percent after announcing a partnership to sell Fire TVs and smart TV’s through Amazon.

Railroad operator CSX jumped 6.1 percent and industrial conglomerate Textron rose 7.6 percent after reporting results beat analysts’ forecasts.

Energy stocks climbed as crude oil prices surged.

Devon Energy rose 5.4 percent.

The S&P 500 index rose 7 points, or 0.3 percent, to 2,713.

The Dow Jones industrial average rose 17 points, or 0.1 percent, to 24,802. The Nasdaq composite climbed 17 points, or 0.2 percent, to 7,297.

Bond prices fell. The yield on the 10-year Treasury rose to 2.85 percent.

9:35 a.m.
Stocks are opening modestly higher on Wall Street after several companies reported encouraging quarterly results.

Morgan Stanley, railroad operator CSX and industrial conglomerate Textron were all solidly higher in early trading Wednesday after their results beat analysts’ forecasts.

Best Buy climbed 3 percent after announcing a partnership to sell Fire TVs and smart TV’s through Amazon.

The S&P 500 index rose 6 points, or 0.2 percent, to 2,712.

The Dow Jones industrial average gained 20 points, or 0.1 percent, to 24,804. The Nasdaq composite climbed 10 points, or 0.2 percent, to 7,290.

Bond prices didn’t move much. The yield on the 10-year Treasury note held steady at 2.83 percent.


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